|
Other operating expenses
|
|
$4.4m
|
$4.9m
|
$6.5m
|
$8.6m
|
$12.8m
|
|
Interest and fees on loans
|
|
$49.1m
|
$50.9m
|
$58.4m
|
$68.9m
|
$87.1m
|
|
Interest on securities
|
|
$47k
|
$208k
|
$338k
|
$897k
|
$1.5m
|
|
Other interest income
|
|
$61k
|
$1.2m
|
$5.8m
|
$4.6m
|
$3.9m
|
|
Interest on deposits
|
|
$1.1m
|
$1.4m
|
$10.0m
|
$15.4m
|
$20.3m
|
|
Net interest income
|
|
$48.0m
|
$50.9m
|
$54.6m
|
$58.9m
|
$72.2m
|
|
Provision for credit losses
|
|
—
|
$13.5m
|
$11.6m
|
$11.6m
|
$38.6m
|
|
Net interest income after provision for credit losses
|
|
$39.9m
|
$37.4m
|
$42.9m
|
$47.3m
|
$33.6m
|
|
Strategic Program fees
|
|
$18.0m
|
$22.5m
|
$15.9m
|
$17.8m
|
$22.0m
|
|
Gain on sale of loans, net
|
|
$9.7m
|
$13.6m
|
$1.7m
|
$2.0m
|
$6.4m
|
|
SBA loan servicing fees, net
|
|
—
|
—
|
$1.8m
|
$1.1m
|
($156k)
|
|
Change in fair value on investment in BFG
|
|
$3.0m
|
($478k)
|
($600k)
|
($625k)
|
$1.3m
|
|
Credit enhancement income
|
|
—
|
—
|
$0
|
$111k
|
$23.9m
|
|
Other miscellaneous income
|
|
$49k
|
$269k
|
$2.6m
|
$2.1m
|
$5.0m
|
|
Salaries and employee benefits
|
|
$21.7m
|
$24.5m
|
$25.8m
|
$35.2m
|
$42.3m
|
|
Professional services
|
|
$1.7m
|
$5.5m
|
$5.0m
|
$4.7m
|
$3.6m
|
|
Provision for income taxes
|
|
$10.7m
|
$10.9m
|
$6.4m
|
$4.2m
|
$5.7m
|
|
Total interest income
|
|
$49.2m
|
$52.3m
|
$64.5m
|
$74.4m
|
$92.5m
|
|
Total non-interest income
|
|
$31.8m
|
$37.4m
|
$21.1m
|
$22.5m
|
$58.5m
|
|
Income before income taxes
|
|
$42.3m
|
$36.0m
|
$23.8m
|
$17.0m
|
$21.8m
|
|
Net income
|
|
$31.6m
|
$25.1m
|
$17.5m
|
$12.7m
|
$16.1m
|
|
Earnings per share, basic (in dollars per share)
|
|
$3.44
|
$1.96
|
$1.38
|
$0.98
|
$1.20
|
|
Earnings per share, diluted (in dollars per share)
|
|
$3.27
|
$1.87
|
$1.33
|
$0.93
|
$1.13
|
|
Weighted average shares outstanding, basic (in shares)
|
|
8.7m
|
12.7m
|
12.5m
|
12.6m
|
12.8m
|
|
Weighted average number of shares outstanding, diluted (in shares)
|
|
9.1m
|
13.4m
|
12.9m
|
13.2m
|
13.6m
|
|
Occupancy and equipment expenses
|
|
$882k
|
$2.2m
|
$3.3m
|
$4.2m
|
$1.9m
|
|
Credit enhancement servicing expense
|
|
—
|
—
|
—
|
$1k
|
$1.2m
|
|
Credit enhancement guarantee expense
|
|
—
|
—
|
—
|
$8k
|
$8.5m
|
|
Total interest expense
|
|
$1.3m
|
$1.4m
|
$10.0m
|
$15.4m
|
$20.3m
|
|
Total non-interest expense
|
|
$29.5m
|
$38.8m
|
$40.2m
|
$52.8m
|
$70.3m
|